商务部4月25日发布的数据显示，截至4月24日24时，全国汽车以旧换新270.5万辆，12类家电以旧换新 4746.6万台，手机等数码产品购新3661万件，家装厨卫"焕新"3712.3万件，电动自行车以旧换新420万 台。政策实施以来，已有超过1.2亿人次享受到了真金白银补贴优惠，带动销售额超过7200亿元。 在构建新发展格局的背景下，以旧换新政策正成为撬动消费升级的重要支点。今年1月，国家发展改革 委、财政部印发《关于2025年加力扩围实施大规模设备更新和消费品以旧换新政策的通知》，进一步扩 围支持消费品以旧换新。3月，中共中央办公厅、国务院办公厅印发《提振消费专项行动方案》，其中 提到今年超长期特别国债支持消费品以旧换新资金规模增加至3000亿元，相较2024年翻了一番。 在利好政策刺激下，人们的消费观念正在从"有没有"向"好不好"转变。 今年以来，辽宁省不断探索以旧换新工作流程优化。目前，家电、手机等补贴资格领取核销渠道由2个 拓展到10个；升级使用专用刷卡机后，消费者填报汽车补贴信息从17项缩减为4项。为减轻企业垫资压 力，辽宁省近日出台政策，可为参加消费品以旧换新企业提供最高10万元的信贷财政贴息， ...

Group 1 - The offline consumption transaction amount in the province reached 25.14 billion yuan during the first three days of the "May Day" holiday, with a year-on-year growth of 7.8% [1] - The "Spring Awakening, Shopping in Tianfu" series of consumption promotion activities organized by the provincial business system contributed to the acceleration of holiday merchandise consumption, with Chengdu launching over 500 exciting events and offering a total of 500 million yuan in discounts [1] - The province's efforts to promote the replacement of old consumer goods, such as automobiles and home appliances, resulted in significant consumption boosts, with 42,500 applications for scrapping cars generating 4.465 billion yuan in consumption [1] Group 2 - Various regions introduced combination discounts like "performance + scenic spots" and "high-speed rail + scenic spots" to stimulate consumer enthusiasm, with Yibin launching a "three-free three-tour" policy to attract tourists [2] - The first three days of the holiday saw 728,000 visitors in key monitored special streets, representing a year-on-year increase of 8.1%, with sales reaching 11.756 million yuan, up 15.2% year-on-year [2]

贵州省启动电动自行车以旧换新补贴，对于报废旧车换购新车的消费者，最高可减1000元。 商务部最新数据显示，今年以来，以旧换新政策拉动汽车、家电、手机等数码产品以及家装厨卫、电动 自行车销售超7200亿元。全国各地也在持续发力，抓住这个"万亿级"的大市场，五一假期期间，纷纷推 出特色补贴，持续释放居民消费潜力。 在河南郑州，随着五一假期的到来，各大家电企业纷纷扎进社区，让家电新品来到消费者"家门口"集中 展示，工作人员现场讲解、代办，"直补立减""拖旧送新"等活动大大提升了社区居民以旧换新的体验。 在这场家电国补进社区活动中，家电企业不仅提供收购旧家电服务，还开展了免费上门检测、清洗旧家 电服务。 湖南省将无醛板材、湘绣、湘瓷等湖南特色产品列入家装厨卫补贴清单，加力扩围推动消费品以旧换 新。在资兴市兴宁镇，村民张建雄最近刚刚搬进了新房。趁着五一假期，他在当地的家装店定做了一套 无醛板材柜子。除了商品补贴外，他还获得了政府发放的装修补贴5805元。 为充分发挥以旧换新带动作用，这个假期，全国各地纷纷开展行动，"花式补贴"促消费。 福建省推出"五一消费季"千场促消费活动，组织步行街、商圈、电商平台联动，开展国货潮品 ...

□本报记者 王歌 消费一头连着宏观经济，一头连着千家万户，是拉动经济的"三驾马车"之一。今年一季度，河南省社会 消费品零售总额7400.54亿元，同比增长7%，总额居全国第五位、增速居全国第三位，实现了"开门 红"。 "奋战二季度，确保'双过半'，河南将围绕'乐购河南·品质生活'主题，开展形式多样的提振消费活动。"4 月30日，在省政府新闻办召开的河南省奋战二季度确保"双过半"系列政策措施新闻发布会上，省商务厅 党组书记、厅长王振利介绍，在激发消费活力方面，省级层面安排1.5亿元资金，分3期发放零售、餐 饮、文旅、住宿消费券，所有在豫人员均可申领。"今天上午已进行了首发。"他说。 今年，我省加力扩围消费品以旧换新，全面开展汽车、家电、数码产品、家装厨卫、电动自行车等5个 领域补贴活动。王振利表示，下一步将继续加强统筹协调，优化工作流程，更好惠民便民。 此外，我省还将重点围绕精品购物、精致美食、精彩文旅、夜间消费等领域，举办形式多样的特色活 动，积极打造"一城一IP"夜消费品牌。 与消费并列，外贸也是拉动经济增长的"三驾马车"之一。作为外贸大省，今年前3个月，全省外贸进出 口总额2042.6亿元、同比增长28% ...

Core Insights - Shanxi Province's Changzi County has effectively leveraged policy opportunities to promote the "old for new" subsidy program, resulting in a surge in consumer spending across various sectors including home appliances and digital products [1][3] Group 1: Consumer Behavior - The "old for new" subsidy policy has significantly stimulated consumer purchasing intentions, with many residents taking advantage of the subsidies to upgrade their home appliances [1][3] - Customers report substantial savings, with one individual noting a reduction of several thousand yuan in expenses due to the subsidy [1] Group 2: Business Impact - Local businesses are experiencing a boost in sales, with one appliance store reporting a 30%-40% increase in sales compared to the same period last year due to the subsidy program [3] - The implementation of the "old for new" policy has led to increased foot traffic in stores, with some retailers achieving sales volumes up to twice their usual levels during peak times [3] Group 3: Financial Metrics - As of this year, the total transaction amount for home appliances in Changzi County has exceeded 6.3 million yuan, with discounts amounting to over 1.19 million yuan across 1,635 transactions [4] - For 3C digital products, the transaction amount has surpassed 8.7 million yuan, with discounts totaling over 1.2 million yuan across 3,680 transactions [4] Group 4: Future Plans - Changzi County plans to continue optimizing the implementation of the subsidy policy, enhancing collaboration between government and enterprises, and organizing promotional events to further benefit consumers and businesses [4]

Core Viewpoint - The implementation of the "old-for-new" subsidy policy in Gansu Province aims to stimulate consumption and promote high-quality economic development in the region through comprehensive support from the tax authority [1]. Group 1: Policy Implementation and Support - The Gansu Provincial Department of Commerce released guidelines for the "old-for-new" subsidy, leading to a city-wide initiative in Jiuquan City [1]. - The Jiuquan City Taxation Bureau has actively promoted tax incentives related to value-added tax, corporate income tax, and vehicle purchase tax through various media platforms [1]. - Tax officials have provided on-site guidance to businesses involved in the program, addressing specific tax-related queries and ensuring smooth participation [1][2]. Group 2: Service Optimization and Efficiency - The increase in sales due to the "old-for-new" initiative has led to a significant rise in invoice requests from mobile digital product retailers [2]. - The Jiuquan City Taxation Bureau established a "green channel" for invoice applications, reducing approval times to under ten minutes, thus facilitating seamless operations for businesses [2]. - A dedicated consultation window for "old-for-new" business inquiries has been set up at the tax office to provide accurate and professional assistance to both businesses and consumers [3]. Group 3: Interdepartmental Collaboration - The Jiuquan City Taxation Bureau has strengthened collaboration with various departments, including finance, commerce, and market regulation, to ensure effective implementation of the "old-for-new" policy [4]. - Businesses participating in the program have reported significant increases in sales, prompting the tax bureau to assist with tax incentives and operational compliance [4]. - Through thorough investigations and consultations, the tax bureau and related departments have addressed potential issues affecting the policy's implementation, ensuring a fair market environment [4].

在扩大投资方面，将工业软件等更新升级纳入"两新"政策支持范围，加快消费基础设施、社会领域投 资，制定实施充电设施"倍增"行动，支持城区常住人口300万以上的城市特别是超大特大城市建设停车 位。力争6月底前下达2025年"两重"建设和中央预算内投资全部项目清单，同时设立新型政策性金融工 具，解决项目建设资本金不足问题。 在畅通循环方面，加快建设全国统一大市场，开展为期半年左右的市场准入壁垒清理整治行动，加快出 台民营经济促进法，帮助外贸企业拓内销；同时，加快科技创新和产业创新深度融合，设立国家创业投 资引导基金，推进人工智能与60个重点行业方向、700个基础场景深度融合。 作为全球第二大经济体和拥有14亿多人口的大国，我国扩大内需有巨大的潜力和空间，而且都是非常现 实的需求。赵辰昕表示，消费领域，我国汽车保有量3.53亿辆，冰箱、洗衣机、空调等主要品类家电保 有量超过30亿台，按照正常周期更新换代，每年能创造数万亿元的需求。投资领域，我国全社会设备存 量资产净值约40万亿元，随着高质量发展深入推进，每年的设备更新换代投资需求将超过5万亿元。据 机构测算，2024年中国人工智能产业规模突破7000亿元，已连续多年 ...

Core Viewpoint - The implementation of several measures will provide strong support for the economy, promoting stable and healthy development while maintaining social stability [2] Group 1: Economic Policies - The Chinese government will accelerate the implementation of more proactive macro policies in response to increasing external shocks [2] - Key measures include supporting employment, stabilizing foreign trade, promoting consumption, expanding effective investment, and creating a stable development environment [2] - These measures are designed to enhance the sense of gain for enterprises and the public, with a focus on practicality and operability [2] Group 2: Domestic Demand Expansion - A significant focus is on boosting consumption and expanding domestic demand to counter the complex international environment [4] - Specific strategies include increasing the income of middle and low-income groups, promoting consumption, and expanding effective investment [4] - The government has allocated over 160 billion yuan for the second batch of consumption subsidies, with additional funds planned for various consumer sectors [4] Group 3: Employment Support - The employment situation remains stable, with 3.08 million new urban jobs created in the first quarter, an increase of 50,000 year-on-year [6] - The unemployment rate averaged 5.3% in the first quarter, below the expected control target [6] - Policies are being implemented to support job creation, particularly for vulnerable groups affected by external shocks [6] Group 4: Foreign Trade Support - Measures will be introduced to help foreign trade enterprises cope with external risks, including accelerating the integration of domestic and foreign trade [7] - The 137th Canton Fair saw participation from 224,000 overseas buyers, indicating strong international interest [7] - The government will enhance public information services for foreign trade enterprises, providing insights into international business environments and market conditions [7]

中金研究 3月，社零总额同比增长5.9%，为2024年以来最高单月增速，主要受以旧换新政策的短期提振。我们的估算显示，年初以来以旧换新进展逐步加快，一 季度4类商品财政补贴规模约为645亿元，其中3月约391亿元。政策效果方面，我们估计3月补贴政策对4类商品消费的当期乘数可能在2.8以上。但历史 经验显示，耐用品补贴政策具有透支效应，长期累计乘数会动态减弱，且对同期的其他消费形成一定挤压。我们认为，在贸易形势不确定性大幅上升 的背景下，更要注重"投资于人"，加大对民生领域（比如生育、养育、住房、养老等社会保障）的支持。 点击小程序查看报告原文 截至4月中旬，商务部已披露的4类消费品以旧换新进度如下： （1）汽车方面，截至4月10日零时，汽车以旧换新补贴申请223.2万份，其中汽车报废更新 补贴申请74.7万份，汽车置换补贴申请148.5万份。（2）家电方面，截至4月10日，消费者累计购买以旧换新家电产品3759万台。（3）数码产品方面，截 至4月6日，消费者申请手机、平板、智能手表（手环）3类数码产品购新补贴6486.6万件。（4）电动自行车方面，截至4月11日，电动自行车以旧换新交 售旧车、换购新车各352 ...

Core Insights - The "old-for-new" consumption program in Xishuangbanna has successfully engaged over 100,000 participants, generating nearly 250 million yuan in consumer spending [2][10] Group 1: Program Implementation and Management - Xishuangbanna has implemented strong measures to enhance the "old-for-new" program, optimizing organizational structures and strengthening fund supervision [4] - A dedicated working group has been established, consisting of 10 sub-groups with clear responsibilities, to ensure effective execution of the program [4] - A systematic approach has been adopted, including weekly statistics, monthly scheduling, and quarterly supervision to promote the program and secure additional subsidies [4] Group 2: Participation and Services - The program has successfully attracted participation from 147 enterprises in home appliances and home decoration, 92 in mobile digital products, and 19 in electric bicycles [6] - Efforts are being made to streamline the registration process for enterprises, including online registration for mobile digital products, aiming for a "one-stop service" to reduce administrative burdens [6] Group 3: Promotion and Public Engagement - A launch ceremony for the 2025 "old-for-new" program was held, accompanied by a two-day promotional event to raise awareness and encourage public participation [8] - The initiative includes leveraging social media platforms like Douyin to create engaging content and promote the program, fostering a vibrant consumer atmosphere [8] Group 4: Financial Impact and Subsidies - As of April 15, 2025, the total subsidy funds for the program reached 34.6866 million yuan, significantly driving consumer spending [10] - Specific contributions to consumer spending include 24.0221 million yuan from vehicle scrappage subsidies, 101 million yuan from vehicle trade-in subsidies, and 6.28114 million yuan from mobile digital product purchases [10]